Staying ahead of competitors in today’s challenging market can be nerve-wracking especially for small businesses. Because of that, it is important not to guess, but to know what your competitors are up to, so you can set your strategy accordingly.
A competitor analysis can help you build a digital marketing strategy that is guaranteed to be successful. Before you start analyzing, you should be sure that you completely understand what this tactic is.
What is a Competitor Analysis?
This is a sort of investigative look at your competitors. It should help you define the weakness and strengths of your rivals and if you use that information wisely, you will be able to outrival them all.
It has to be thorough and to include all aspects of your competitors’ marketing strategy. This article includes tips that will help you to decode your competitors’ plans, avoid their pitfalls and build a strong foundation for your next marketing campaign.
1. Analyse Your Competitors’ Social Media Presence
This is one of the best ways to learn from your competitors’ mistakes and find new opportunities that will keep you ahead of them. Don’t forget that you will need to revisit your competitors’ social media analysis regularly to keep it updated.
There are different tools like Buzzsumo that will help you find your competitors’ most shared content, Hootsuite Streams to track their keywords and hashtags, and many others. In case you have trouble using these and other tools on your own or simply don’t have time – just contact our well-versed West Palm Beach digital marketers.
2. Take a Closer Look at Your Competitors’ Website Traffic
A proper analysis of your competitor’s website traffic can provide you with a lot of useful insights. One way to start is mapping out your competitors and how their online presence is performing on the market.
This is an important step if you want to discover their strategy and check their performance. It is also a good way to see if any potential big changes can happen in future. Many marketers consider this method as one of the most important tactics of competitor analysis.
3. Include Competitor SEO Analysis in Your Marketing Strategy
The best way to build a long-term digital marketing campaign is to include SEO. You will be able to analyse a targeted website’s organic traffic, explore your competitors’ ranking keywords, their most successful pages and others.
Implementing this valuable data to your marketing plan will help you rank higher in search results than your competitors.
4. Don’t Forget About Your Competitors Ads Analysis
If you want to know more about your rivals’ keyword bidding, costs of paid ads, and other data that will help you improve your ROI, you should learn more about your competitors’ ads. This can also be a good inspiration for your next marketing campaign.
Are You Ready to Place This Learnings Into Action?
After you have learned about your competitors’ online behaviour and their performance in the digital market it is time to get the most of it and start implementing these data into your marketing strategy.
In case you are not sure how to conduct the investigation process, or how to tailor your next marketing campaign by using the information you have collected, we will be there to help you. Ajroni Enterprises West Palm Beach Web Development Company offers professional digital marketing services that will help you boost your business.
We are the top choice of many small businesses and startups because we provide a wide range of services tailored to our customers’ specific requirements and needs. Contact us today, and let us show you all the benefits that competitor analysis can bring you.